Agility Holds AGM Teleconference for the Year Ending 31 Dec. 2019
KUWAIT, 29 June 2020 – Agility, a leading global logistics provider, held today its Annual Ordinary General Assembly Meeting, with a quorum of 66.17%.
The meeting was held by teleconference because of current physical distancing measures put in place by the Kuwait government to combat the COVID-19 crisis. Shareholders approved all the items on the agenda, including Agility’s audited financial results, and endorsed the Board of Directors’ recommendation for a cash dividend of 5% (5 fils for every share) and a bonus share distribution of 15% (15 shares for every 100 shares).
Dividend distribution will apply to the shareholders registered in the company’s records at the end of the settlement date on 26 July 2020, and payments will be distributed on 28 July 2020, provided that the company is able to finalize related processes in light of the COVID-19 crisis. Cash dividend distributions will be transferred electronically to the shareholders bank accounts that have registered with Maqasa. Shareholders are kindly requested to check with Maqasa to update their records.
Agility had announced a net profit of KD 86.8 million, or 52.14 fils per share for the year 2019, an increase of 7% from 2018. Revenue for the year reached KD 1,578.6 million, and EBITDA was KD 193.1 million, increases of 1.8% and 24.7%, respectively.
“Our 2019 performance was strong, but as everyone knows, this year has been tough. Our first priority is ensure the safety of our employees, customers and other stakeholders. Operationally, we are taking all prudent measures to keep business running and maintain financial flexibility. We are confident that we will emerge from this crisis stronger than ever, especially with your support,” said Agility Vice Chairman and CEO Tarek Sultan.
Agility is a global logistics company with $5.2 billion in annual revenue and 26,000+ employees in more than 100 countries. It is one of the world’s top freight forwarding and contract logistics providers, and a leader and investor in technology to enhance supply chain efficiency. Agility is a pioneer in emerging markets and one of the largest private owners and developers of warehousing and light industrial parks in the Middle East, Africa and Asia. Agility’s subsidiary companies offer fuel logistics, airport services, commercial real estate and facilities management, customs digitization, and remote infrastructure services.